Problem 3 In its income statement for the year ended December 31,2017, Pele company reported the following condensed data Administrative exp. 435,000 Selling expenses 490,000 Cost of goods sold 1,289,000 Sales return Interest expenses 70,000 Sales Prepare income statement Problem 4 90,000 2,312,000 Below is a series of cost of goods sold sections for companies B, J, Land R Find the missing amounts? Beginning inventory Purchases Purchases returns and allowances Net purchases Freight-in Cost of goods Purchases Cost of goods available for sale Ending inventory Cost of goods sold BF LR 150 70 100 7 1,600 1,0807 43,590 40 7 290 7 7 1,030 6,210 41,090 110 7 2 2240 ? 1.2807,940? 1,820 1,35071 49,530 3107 1,4506,2301 1,2307,490 43,300